Good luck Invitbox and thanks for the validation!

Since we started Datamolino we have been focussed on validating every aspect of our product. We work hard to ensure our ideas, and their implementation, are accurate and have worth. Put simply, validation for any enterprise comes in the form of data that shows how potential risks have been managed. We know that this process is vital for every business to help it thrive.

For us here at Datamolino, this validation has taken several forms so far, the first was when we applied for the Wayra accelerator program. Gaining acceptance into the academy validated our idea that electronic data extraction was solving a real world problem, and could provide us with a viable entrepreneurial model. As we head full steam towards our product release we are asking our beta users to complete a short survey to validate our thinking with respect to aspects like usage and price point. This particular process is enabling us to quickly identify where we need to point the product to better serve our customers. Feedback from our users gives us the confidence to grow our user base in the right direction.

Today we learnt that our friends at Invitbox have been bought by  Intuit the provider of accounting software Quickbooks and Quickbooks Online. In a way, this could be considered the final piece of validation for that company’s founders. The fact that their business was deemed worthy enough to be included within the much larger Intuit framework is a validation of their idea, model, hard work and commitment. For Datamolino, we see this acquisition from a broader perspective – a validation of the industry as a whole. It is even more clear to us now that the cloud accounting segment is growing, and our strategy to develop a product for this market was a good decision. The service we offer is needed and valued, and we are working harder than ever to make sure that automated data extraction is easy for accountants and SMEs.

We were really pleased to meet up with Invitbox in Dublin at Web Summit last year. They embodied the entrepreneurial spirit in being smart, fun, and driven. We will use their final validation to drive ours further into the SaaS cloud(s), and wish them all the very best for the future!